Everyone reading this as a defeat. It's not. It's the OPPOSITE.
7.8M ada, 65% support, and it still didn't pass. Even with Charles and Frederik backing it late. You know what that is? It's ada holders saying "not like this", and the system actually LISTENING.
This is governance working exactly as intended. The treasury isn't a blank cheque, it's the community's money, and the community gets to decide. That's not dysfunction. That's democracy.
And let's be honest, other chains have burned truckloads on marketing, summits and ads, and we've all seen how that ended up on their balance sheets. Cardano just showed it won't make that mistake by default. The guardrails are real.
No summit this year stings a bit, I get it. But a mature ecosystem is one where NOT every big request gets rubber stamped. We're early, and we're already doing this right.
Bullish on the process. 🥂